Creating a business case

- Deciding to buy a new car is a pretty big deal for most people. And how one arrives at this decision may vary. But what doesn't vary is that the car shopper will have a need. They will have a list of requirements they are looking to satisfy and they'll perform some form of analysis to help them make the decision about which car to buy. This is exactly how organizations make decisions to when deciding whether to fund a new idea, businesses will define the need, identify the requirements, and perform the research to help make the decision. The document that supports this work is the business case. The business case is used to pitch the idea in order to secure funding. And it includes a feasibility study. The study is undertaken to determine whether it's feasible for the business to spend money on addressing a certain situation or not. The situation can be a business problem they want to address, or it can be an opportunity they'd like to pursue. For example, a call center manager recognizes their existing call center software is not capable of supporting future growth. The technology is outdated and lacking in capability, and the manager wants to consider a replacement system to better address their needs. A business case is started. The situation is explained. Some information on the current state is provided for context and an explanation of an envisioned future state is defined. Clear measurable objectives are included providing a way to measure success. Should this initiative be pursued since there are different ways to solve the business problem, research is performed to determine different solution options. And a number of ideas are considered and analyzed. Some ideas may fall off the list after research has completed while other options look promising and they remain. Each viable option is reviewed from a cost benefit perspective. Risk, constraints, assumptions, and dependencies are noted, and the results are pulled together in the business case. Once completed the business case is distributed to the decision makers who will use this research to determine whether the funding of this initiative makes sense. There are a few things that need to be part of every business case. First always include at least three viable solutions. As the author of the business case, you need to demonstrate that you have conducted enough analysis to fairly consider different solutions for resolving the situation at hand and provide viable options, avoid putting in non-viable options as that will only skew objectivity. Second, present the information in a non-biased way. While there may be a clear solution in your mind, every option should be given equal consideration. And third include a do nothing option. As odd as this might sound, decision makers always have the option to do nothing, and they will often ask what happens if I choose not to act. Business cases are high value deliverables as organizations who build them, make funding decisions based on research and understanding how investments will realize their strategy.